Cigniti Technologies Limited
 | |
| Public | |
| Traded as | BSE: 534758 & NSE: CIGNITITEC |
| ISIN | 🆔 |
| Industry | Software Quality Engineering, Test Advisory & Consulting |
| Founded 📆 | 3 September 1998 |
| Founder 👔 | C. V. Subramanyam |
| Headquarters 🏙️ | , , |
Area served 🗺️ | Worldwide |
Key people |
|
| Services | Software QE, QA, Software Testing and Outsourcing services |
| Revenue🤑 | US$108 million (2018) |
| US$8.1 million (2018) | |
| US$5.0 million (2018) | |
| Total assets | US$36.7 million (2018) |
| Total equity | US$1.1 million (2018) |
| Members | |
Number of employees | 2100 (2018) |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Cigniti Technologies Limited (formerly Chakkilam Infotech Limited [1]) is a multinational corporation headquartered at Hyderabad, Telangana, India.[2] It provides independent quality engineering services including independent software testing, quality and digital assurance, test advisory and test transformation solutions.
Cigniti is listed on NSE (NSE: CIGNITITEC) and BSE (BSE: 534758).[3] The current market capitalisation for Cigniti stands at INR 1049.81 Crore. [4]
History[edit]
The company was incorporated on September 3, 1998 at Punjagutta, Hyderabad, Telangana, by C V Subramanyam as Chakkilam Infotech.[5] It was initially set up as an IT services company focussing on custom application development and maintenance. In January, 1999, it joined hands with TTI Incorporation, Baltimore, USA and offered e-publishing services. Chakkilam Infotech also created HIPPA compliant products for US healthcare industry. [6]
In 2015, Cigniti was appraised at Level 5 of the CMMI Institute's Capability Maturity Model Integration.[7]
Acquisitions[edit]
Chakkilam Infotech acquired Cigniti Inc. based in Irving, Texas, USA in 2011-2012. Cigniti Inc had a headcount of 350 and a standalone revenue of $18mn USD (2010) at the time of acquisition.[8] Chakkilam Infotech was renamed as Cigniti Technologies Ltd. [9] [10]
In 2013, Cigniti went on to acquire Gallop Solutions Inc.[11] that had built IPs around HP QC migration. [12] Gallop had products such as Winquick (a WinRunner to QTP Migration Accelerator) and Roboquick (a Rational to QTP Migration Accelerator) and services that were backed by a Proprietary Testing IP (Enterprise Test Acceleration Suite - ETAS). WinQuick was the only HP validated and approved solution to migrate from WinRunner to QTP. [12] [13]
Gallop had revenues of over US$9.5m and a headcount of 200 employees worldover.[14] [15]
Services[edit]
Cigniti provides quality engineering services, independent software testing services and independent validation services to companies in airlines, banking, healthcare, energy & utilities, finance, insurance, retail and others. [16] [17] [18] Cigniti’s key products and services are:
- Test Advisory and Test Transformation
- Digital Assurance
- Managed Testing Services
- Quality Engineering
- BlueSwan Stack – Verita, Velocita, Cesta, Prudentia, Praxia[16] (and recently added Sentiment Analyser) [19]
Cigniti built strategic partnerships with leading names in the software testing domain.[17] [20]
Operations[edit]
Geographical Presence[edit]
Cigniti inaugurated its first global test engineering center in Hyderabad in 2012.[6] It opened three more global test engineering centers in 2013,[21] 2014, and 2018,[22] in the Ascendas IT Park, Software Units Layout in Madhapur, HITEC City, Cyberabad, Hyderabad. In 2014, Cigniti expanded its operations in UK, with an office in London. [23]
Currently, Cigniti has its footprint across the USA, UK, Australia, India, South Africa & UAE. [24] Cigniti had also opened an office in New Zealand. It was closed down subsequently owing to company’s consolidation efforts. [25] Cigniti has offices and development centers across the globe including United States (Irving, Texas & King of Prussia, PA) & Canada (Ontario), United Kingdom (London), Australia, India (Hyderabad), South Africa (Bryanston), and UAE (Dubai).
Employees[edit]
Cigniti’s 2,100+ staff[17] (as on June 2018) are spread across US, Canada, UK, Europe, Australia, South Africa, India, and Dubai, UAE. [24]
IP and Patents[edit]
BlueSwan, the next generation and proprietary test platform, [26] comprises of 5 elements – Verita, Velocita, Cesta, Praxia, Prudentia and Sentiment Analyzer. These elements complement the existing QA and QE tools of enterprises.
Cigniti developed proprietary test asset migration accelerator tool that could help testers convert test assets from one technology to another, irrespective of the type of technology. This was built into Cesta, one of the components of BlueSwan. Cesta received a United States patent in 2018.[27]
Cigniti created Customer Experience Sentiment Analyzer tool in the year 2017. [17]The tool is powered by Artificial Intelligence (AI) and Machine Learning. [17]
Awards[edit]
| Year | Award Won |
|---|---|
| 2014 | Recognized as the ‘Fastest Growing Company in Asia’ in Forbes Asia Best Under a Billion Forum [3] |
| 2014 | Won 2014 Global Frost & Sullivan Customer Value Leadership Award for Automated Software Testing Services for North America[3] [28] [29] |
| 2015 | Received 2015 Business Today Best SME Award for Global Excellence [3] |
| 2015 | Won the “Customer Value Leadership Award” in “Automated Software Testing Services” by Frost & Sullivan at the “2015 European Growth, Innovation and Leadership Awards Banquet” for European markets[18] |
| 2016 | Received the Best Employer Brands Award at the 11th Employer Branding Awards (Regional Round) hosted by Employer Branding Institute & World HRD Congress with CHRO Asia [3] |
| 2018 | Srikanth Chakkilam, CEO of Cigniti won the “CEO of the Year” Award for 2018 at the Future Leaders Summit & Awards 2018[30] |
Initiatives[edit]
Cigniti’s CSR initiative, Project Cignificance aims to raise a platform for the underprivileged students In Telangana, India, to avail world class educational content explained in their local medium of instruction – Telugu language. The narrations explaining Mathematics and Science concepts are integrated into videos for easy understanding. The 800+ videos cover topics taught in the schools run by the government of Andhra Pradesh.[17] [31]
[edit]
Listing and share holding pattern In India, shares of Cigniti are listed at BSE where it is included in BSE SENSEX and NSE where it is included in CNX NIFTY.
Cigniti was established in Hyderabad, India with an initial capital of $ 94 in 1998. It was registered as Chakkilam Infotech Private Limited on 3rd day of September, 1998. Further it is converted in to Public Limited Company and was registered as Chakkilam Infotech Limited on 22nd January 2000. Subsequently the Company has changed its name to Cigniti Technologies Limited on 19th October 2011.
Share listing: An initial public offer (IPO) in January 2004 with an offer price of ₹10/- per share (equivalent to ₹10/- or US$ 0.16 in 2017) per share against book value of ₹ 10/-(equivalent to ₹ 10/- or US$ 0.16 in 2017) per share. Cigniti’s shares were listed in stock exchanges in BSE with trading opening at ₹ 49/- (equivalent to ₹ 384 or US$ 5.93 in 2017) per share.
| Shareholders (as of 30 September 2018) [32] | Shareholding |
|---|---|
| Promoters Group | 37.37% |
| Foreign institutional investors (FII) | 0% |
| Individual shareholders | 52.37% |
| Banks, financial institutions and insurance companies | 0.04% |
| Mutual Funds | 0.20% |
| Others | 10.02% |
| Total | 100% |
References[edit]
- ↑ "Cigniti Tech to raise $10 mn for buyout". 18 March 2013.
- ↑ "Cigniti Overview".
- ↑ 3.0 3.1 3.2 3.3 3.4 "Cigniti Technologies History".
- ↑ "Stock Price Quote".
- ↑ "Brickwork Ratings" (PDF). 6 Aug 2016.
- ↑ 6.0 6.1 "Cigniti Technologies lists with BSE" (PDF). March 2012.
- ↑ "Cigniti Technologies Ltd has been appraised at Level 5 of the CMMI Institutes Capability Maturity Model Integration (CMMI)". 21 August 2015.
- ↑ "Brickwork Ratings for Cigniti Technologies" (PDF).
- ↑ "Chakkilam Infotech buys US firm for $2.4 mn". 21 January 2013.
- ↑ "Chakkilam Infotech buys US testing company". 3 Oct 2011.
- ↑ "Cigniti acquires Gallop". 29 May 2013.
- ↑ 12.0 12.1 "Gallop Unveils World's 1st Automated Tool for UFT to LeanFT Migration". 1 September 2015.
- ↑ "WinRunner to Functional Testing - License Migration Path" (PDF). March 2008.
- ↑ "Cigniti Technologies acquires US testing firm". 29 May 2013.
- ↑ "Tried and Tested". 11 October 2015.
- ↑ 16.0 16.1 "Cigniti Technologies Annual Report" (PDF). May 2017.
- ↑ 17.0 17.1 17.2 17.3 17.4 17.5 "Cigniti Annual Report" (PDF). June 2018.
- ↑ 18.0 18.1 "Cigniti Technologies Annual Report" (PDF). June 2016.
- ↑ "Cigniti - Digital Testing". 25 August 2017.
- ↑ "Cigniti Technologies Annual Report" (PDF). May 2015.
- ↑ "Cigniti opens 2nd global test engg centre in Hyderabad". 8 December 2014.
- ↑ "Cigniti opens development centre". 17 August 2018.
- ↑ "Cigniti expands to Europe". 13 May 2014.
- ↑ 24.0 24.1 "Cigniti Technologies - Corporate Presentation" (PDF). 15 November 2018.
- ↑ "Board of Cigniti Technologies considers closure of two subsidiaries". 22 May 2018.
- ↑ "Cigniti releases test platform with predictive analytics". 10 October 2016.
- ↑ "Smart migration/ remediation engine".
- ↑ "Frost & Sullivan Commends recognizes Cigniti for Redefining the Software Testing Space with Superior Customer-Handling Expertise". 19 November 2014.
- ↑ "Cigniti Technologies Annual Report" (PDF). June 2014.
- ↑ "Future Leaders Summit and Awards".
- ↑ "Cigniti Technologies Ltd (CIGNta.NS)".
- ↑ "Cigniti Technologies Shareholding Pattern".
External links[edit]
Cigniti[edit]
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- Software testing
- Software quality
- Quality assurance
- Product testing
- Software engineering
- Software testing tools
- Software companies of India
- Multinational companies headquartered in India
- Companies listed on the Bombay Stock Exchange
- Indian brands
- Indian companies established in 1998
- 1998 establishments in India
